Paris, September 08, 2024, The Europe Today: The French government announced plans to allocate a portion of the proceeds from frozen Russian assets towards purchasing weapons for Ukraine. The decision follows calls from Kyiv for expedited arms deliveries as the conflict with Russia intensifies.
In response to Russia’s military operation in Ukraine, Western nations have frozen an estimated $300 billion in Russian assets. While Ukraine and some European allies have advocated for the outright confiscation of these funds, the European Union has yet to establish a legal framework for doing so.
However, the European Commission agreed in June to make €1.5 billion ($1.6 billion) of the proceeds from the frozen assets available for Ukrainian aid. The French Defense Ministry has now confirmed that €300 million ($332 million) of that sum will be used to procure critical military equipment, including munitions, artillery, and air defense systems from French manufacturers, with deliveries planned by 2024.
“This is an opportunity to continue ramping up the French industry in support of Ukraine,” the ministry’s statement read.
The move comes as Ukrainian President Volodymyr Zelensky has urged France, the United Kingdom, and the United States to accelerate the delivery of weapons. Ukrainian forces have faced increasing pressure from the Russian military, particularly in the Donbass region. “Decisions are needed, as are timely logistics for the announced aid packages,” Zelensky emphasized earlier this month.
Meanwhile, Moscow has condemned the freezing of its assets, calling it a violation of international law. Russian Foreign Ministry spokesperson Maria Zakharova warned in June that any continued action against Russian assets would have severe consequences for Brussels. Moscow has described the freezing of its funds as equivalent to theft and vowed retaliation.
The European Union and its member states continue to balance legal complexities while addressing Ukraine’s urgent need for military support as the war enters its second year.
